Some of the best reporting on crony capitalism being done right now is by Tim Carney at the Washington Examiner. The attached story is another great one.
During the Obamacare battle much was made of Obama’s effort at reining in the insurance and drug industries, for the sake of the “American people.”
Of course “health care reform” came out to benefit of both industries, throwing up a nice government mandated firewall around much of both industries. But the emails in Carney’s piece give insight into how all this went down. Big Pharma and Obama it turns out were downright cuddly leading up to the most divisive piece of legislation in a generation.
(From The Washington Examiner)
“Over the following weeks, the emails show, drug lobbyists, White House officials and aides to Sen. Max Baucus hammered out a deal that formed the backbone of Obamacare. The final bill would subsidize prescription drugs, force states to include drug coverage in Medicaid, and expand private insurance coverage of drugs. Also, the White House pledged to oppose policies that Obama had promised on the campaign trail: allowing reimportation of prescription drugs and empowering Medicare to negotiate for lower prices on the drugs Medicare is paying for.”